Invest your cash surpluses in a safe and flexible way
Memo Bank’s term deposit account offers the best of ordinary term deposit accounts with all the flexibility you can expect from an online bank. Invest and withdraw your cash in just a few clicks, without ever paying a fee—not even in the case of partial withdrawal. Whether you need to invest €5,000 or 10 million euros, park your cash in an interest-bearing term deposit account covered by the FGDR’s safety net (up to €100,000 per client).
No withdrawal fees. Ever.
Unlike traditional term deposit accounts, Memo Bank’s term deposit accounts are flexible. They allow you to perform full or partial withdrawals at any given time—and at no extra cost. All you need to do is give a 32 days notice. And if you only withdraw parts of your funds, your term deposit account remains open. It’s like a term deposit account but on your terms.
Manage your account online
With Memo Bank’s term deposit account, everything takes place online. When you open your term deposit account, curves allow you to see how much you could earn depending on the time commitment you’re willing to make. And once your term deposit account is up and running, all you need to manage it is your Memo Bank workspace.
A safe bank
The best liquidity coverage ratio on the block
Memo Bank is a solid bank. In Europe, banks are required to cover at least 100% of their deposits. We cover ours up to 1,734%. With such a liquidity coverage ratio (LCR), we’d be able to convert our assets into cash swiftly in case of a bank run. How are traditional banks doing? Their LCR ratio sits between 100% and 150%.
Your cash doesn’t end up in an oil rig
Invest your cash responsibly. The deposits you park on your Memo Bank term deposits account don’t fuel the oil industry, nor do they propel the gas or coal industry. We do as the safe banks do: we turn your deposits into loans that we then grant to businesses like yours, and we put the rest of our clients’ deposits in a central bank—where it’s both secure and liquid.